Chemours bolstering finances as coronavirus battle continues

WILMINGTON, Del.—Chemours Co. is borrowing $300 million during these uncertain times as a precautionary measure.

The Wilmington based-chemistry company is borrowing the money from its $800 million revolving credit facility.

"We remain focused on executing our business continuity plans that will keep our workforce healthy, maintain a reliable supply to our customers, and deliver results to our shareholders," CEO Mark Vergnano said in a statement. "At the same time, we are taking precautionary action to navigate the current uncertainty.

Chemours had total liquidity in cash, cash equivalents and borrowing capacity totaling $1.6 billion as of Dec. 31. No senior debt comes due until 2023.

"While the current environment remains uncertain, we remain confident in our financial position, the strength of our businesses, and the long-term prospects for Chemours," Vergnano said in the statement.

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